BNK Gyeongnam Bank Launches 'BNK Deo Joeun Medium-Interest Credit Loan'

Products for Medium and Low Credit Borrowers and Financially Marginalized Groups
Maximum Limit 30 Million KRW · Individual Entrepreneurs 20 Million KRW

BNK Gyeongnam Bank launched the 'BNK Deo Joeun Medium-Interest Credit Loan' on the 29th of last month, targeting middle- and low-credit borrowers and financially marginalized groups.

[Asia Economy Yeongnam Reporting Headquarters Reporter Son Taeseok] BNK Gyeongnam Bank launched the ‘BNK Deo Joeun Medium-Interest Credit Loan’ on the 29th, targeting middle- and low-credit borrowers and financially marginalized groups.

The BNK Deo Joeun Medium-Interest Credit Loan uses artificial intelligence (AI) machine learning techniques to evaluate the repayment ability and willingness of financially marginalized groups and immediately decide on loan approval.

The maximum limit is 30 million KRW (up to 20 million KRW for individual business owners), and individuals and individual business owners with a medium-interest credit rating of grade 7 or higher and an annual income of 10 million KRW or more can apply.

The interest rate for medium-interest credit rating grade 1 is as low as 5.02% (as of the 29th, 5.69% for individual business owners), with a maximum interest rate of 13.00% (excluding education tax).

If the borrower repays without delinquency after receiving the loan, they can receive an interest rate reduction benefit of up to 2.00 percentage points.

The loan term is up to 5 years (applied for in yearly units), and repayment can be chosen between equal principal installment repayment or equal principal and interest installment repayment methods without a grace period.

This content was produced with the assistance of AI translation services.